Member Info for Toyin

Me too mol, it would bring me great comfort.

Fingers crossed.

Thanks mol, I’m hoping that Alyson has been put there at the behest of MD and or DB.

Aquae, the order was to get the raw ingredient from Winclove in time. Whilst that was happening they could have been in discussions to change the delivery from sachets to capsules. Worst case they could have launched in sachets and then changed to capsules, they are going to do it at some point. One thing is for sure, they definitely would have been in capsules by now.

The point is, they knew he was going to launch with someone, so why didn’t they get the ball rolling earlier to change the delivery?

Aquae, he could have launched with capsules. I sent him the details of a company called HTC, my daughter worked for them at the time, it was all teed up. I sent him the details on 23/6/25, fell on deaf ears. They even do business with SD, it was there on a plate.

https://www.htc.co.uk/products/capsules/

PG, no problem, its done and forgotten.

I dont know why anyone is surprised with the way TW reports things, he has never been any different, what you see is what you get.

Re comments regarding Elric you are entitled to your view but you only have 50% of the story so a tad unfair to say I am being unfair, but they were private conversations and they will remain that way.

Anyway, no one wants to hear about personal spats so lets park it and get back to sbtx.

PG, when TW referenced “Chris” it could well have been me, from memory he refers to me as “C” but that is by the by, I stand by everything I have said. You accused me of “enlisting” TW, even if I did, so what? SA enlists Elric to spread his thoughts, why is that any different? Just because Elric relays the positives and TW relays the negatives, why is one worse than the other? It’s just a different view point, surely it’s all about free speech, debate and getting to the truth. I don’t agree with everything that TW says, likewise, I don’t agree with everything that Elric says.

Thank you for the apology. I wish to fight or fallout with no one, but I also refuse to be thrown under the bus, or used as a scapegoat.

PG, I enlisted no one, TW is his own man, did I have email discussions with him, yes, did I ever ask him to write anything, categorically never. TW has been after SA for a long time and still is.

Investors are free to do as they choose and thats the way it should be. If you buy, down to you, if you sell, down to you.

Once again, I suggest you have a chat with Elric and keep me out of your posts. My patiance is wearing thin!

Beluga, I am not bashing the BOD, I am saying I dont like the acquisition strategy, it is a legitimate concern, I am saying I dont understand why we had to raise £4m for SD, again a legitimate concern. How would you like me to frame my concerns, or would you rather them not be discuss at all, pretend everything is wonderful and the BOD have made no mistakes? With regards the chance to vote them out, I think you will find that chance was revoked from investors. I have no wounds to lick, just because you dont like what I say is irrelevant. I will say what I like, as a shareholder that is my right.

When we get some positive news I will be the first to congratulate the BOD. So far, other than Croda, I have seen no evidence to suggest other parts of the business have performed as expected, Axis hasn’t, the acquisitions have not performed as promised and I have no idea if SD is performing in a manner to justify the dilution. So unfortunately with the news in the public domain, thats where I am.

To be clear, I am very excited about the future of SBTX, but I do have concerns about the strategy going forward. It really is as simple as that.

I suggest you look back over my posts, I have been a big advocate of SA over the years but when the story changes you have to ask questions, that's all I'm doing. Some people dont like it, thats par for the course.

Bubs, bazzao, thank you for the kind words.

beluga, back to sbtx. I am invested for Croda and Croda alone, it would have been nice to have had another deal or two for our IP by now, but you cant have everything.

I have never invested in a company I have been 100% happy with, perfection does not exist. For e.g. I do not like the fact that the BOD seem hell bent on more acquisitions, I also dont see the need for the £4m SD fund raise and see no evidence to support that size of raise. I see no mileage in buying companies and turning £1 from Croda into 70p (or whatever it turns out to be) for investors, which looks likely on past form. Having said that I believe Croda will be plenty big enough to counter the BOD’s empire building.

As for selling up, thats not going to happen, quite the contrary, I see a very bright future for Zenakine. As for sabotaging your investment, my words are inconsequential to the share price, as are yours. According to you I have been moaning all day and the share price is up 10% so no correlation i'm affraid.

Not at all beluga. But I think I will stick with the Harvard scholars maxim.

The primary peril of forgetting the past is the risk of repeating past mistakes and failures, as famously articulated by George Santayana's maxim, "Those who cannot remember the past are condemned to repeat it". Forgetting history results in a loss of collective wisdom and a weakened ability to make informed decisions in the present.

I like to think of it along these lines. The rear-view mirror offers profound life lessons through its metaphor: it teaches the importance of brief, reflective glances at the past to learn from experiences (mistakes, successes, growth) and inform present actions, without getting stuck dwelling there, reminding us to focus primarily on the forward path, much like driving safely requires balancing both forward vision (windshield) and situational awareness (mirrors).

You do what you do, I will do waht I do, thats the last on the matter from me.

Beluga, read my post again. I have said I am looking forward but to forget the past is for fools. I will air my views, I will continue to hold the BOD to account. If I bore you please filter me.

Mad, with all due respect you are talking nonsense. If it was due to self destructive comments wrecking the share price, it must have been lots and lots of investors to allow someone to acquire 15% of the company to the tune of 39,000,000 shares. That would take a lot of destructive comments to achieve that feat, especially when SSA himself said it was just a “few activist investors"!

Legitimate investors (me included) have a right to question the BOD, thats the way it should be, if you think that is undermining, so be it. The BOD have delivered millions in revenue by acquiring it, that process is not exactly difficult when you use someone else’s money.

As I said a week ago, I will look forward but I will not forget the past, and if the BOD continue on this acquisition spree I will not keep quiet because I dont agree with it, we dont need anymore. They were an insurance policy, they have done there job, get back to selling our blackbox IP.

The share price has been in the gutter for two reasons, firstly, the actions of the BOD, secondly MD having a huge order in to acquire stock at certain levels and the MM’s have assisted, well done them, they have done a very good job.

Onwards and upwards, but that doesn't give the BOD carte blanche do as they wish in 26!

Let's keep debate genuine and respectful on both sides.

Beluga, I have always been onboard, all I have done is raise what I feel were/are legitimate concerns on certain actions of the BOD. I cant saw sawdust so I choose to move on, as long as they learn from it, I am ok with that. If you ignore the past you are doomed to repeat it. We all make mistakes, thats part of life.

What others choose to do is up to them, I have no control over that. I just hope going forward successes can be praised and enjoyed and failures can be discussed openly and honestly, analysed and rectified in a civil constructive manner. In situations like this polarisation never solves anything.

Clio, fingers crossed. This all got very messy and there was no need for it, a bit of empathy would have gone a long way.

The AGM voting was very poor, the fact that only 50% of shareholders could be bothered is telling, probably down to the fact they changed the resolutions. The fact they felt they needed to have a lawyer present hopefully means the shot across the bow has been taken seriously.

Let's hope we can all move forward and 2026 is the start of the recovery.

Seriously kitchen, you say. "Since the company missed last year they will be wary”

Some verbatim comments from SA.

“Had the YE come three weeks later we would have hit that number”

“If it had come four, five or six weeks later, we would have smashed it too pieces”

“Had a huge bumper start to the year”

“Im very pleased with both acquisitions”

“Ultimately we would have hit the £5.3m and a lot more and if you stick Croda on top of that, we would have smashed the number out the water”

Doesnt sound like SA is wary, maybe he should tell the house broker. Keep the excuses flowing!

Kitchen, they were missed orders that came in six weeks later, ergo 100% delivered, in the bank, straight from the horses mouth. FY26 should have been updated to include those orders as they are material.

You are either stupid or ignorant.

Re the £75k, you believe what you want.

Why do they have to shut off Dec books? FY26 started in July so if the missed revenue from FY25 slipped into FY26 it could have been done in July.

Kitchen, why hasn't FY26 forecast been updated to include the missed FY25 revenues?

Ps, they haven’t spent £75k on legal fees, nowhere near it.

Kitchen, because we got told the same last year, therein lies the problem. Believe nothing what this management tell you! You turn up six days ago giving it the big I am and you dont even know the revenue miss, let me give you a clue, it wasn’t small as some would have you believe. The new BS just replaces the old BS. I suggest you go and do some research.

Kitchen, I am trying to explain to you part of the problem. I dont care what has been said in the podcast.

There was a forecast out for FY25 (YE June 25) and the two companies, plus axis were expected to do "X" but they achieved "Y" can you give me those two figures?